IOHK Opens Cardano (ADA) Blockchain’s IELE Virtual Machine Testnet
IELE Virtual Machine Has Been Launched for Cardano’s Blockchain
The company behind Cardano, IOHK, announced the launch of the new testnet of the IELE virtual machine. This is an important release for Cardano that is following its roadmap and trying to develop a platform for smart contracts. Those interested programmers are able to launch their programs on Cardano.
IOHK has launched the second Cardano testnet, which is for the IELE virtual machine. Learn more about IELE and how to build smart contracts through their blog post and videos: https://t.co/q7J56W8iBo
— Cardano Foundation (@CardanoStiftung) July 30, 2018
The infrastructure created by the scalable IELE virtual machine offers a very productive platform for creating smart contracts. Enterprises have a very important tool to adopt these programmable contracts in a very easy way.
In order to launch this testnet, IELE partnered with Runtime Verification (RV), a recognized technology research and development startup. RV was able to eliminate some bugs that were harming networks after detecting some poorly written smart contracts.
RV has been working with other important companies and agencies including Boeing, NASA, and Microsoft with the intention to create secure software. After the partnership with IOHK, these new techniques will be for the first time in the blockchain industry.
Today we launch the second #Cardano testnet, which is for the IELE virtual machine (VM) and follows our recent launch of the KEVM testnet. Developers now have the opportunity to explore Cardano's #smartcontracts technology, read more here: https://t.co/VAzuYwvFWe @cardanocom #Ada pic.twitter.com/CegeGlA4XZ
— Input Output (@InputOutputHK) July 30, 2018
The IELE virtual machine has been built for Cardano’s third generation blockchain protocol. It is important to mention that IELE will be the first virtual machine for smart contracts to use formal semantics. In the future, a wide number of programming languages will be supported.
Grigore Rosu, professor of Computer Science at UIUC and CEO of Runtime Verification explained:
“One of the driving forces behind the initial design of IELE was to facilitate the creation of more reliable and robust smart contracts and to prevent errors in code that can lead to large-scale hacks. IELE was designed from scratch using formal methods, following the same approach we previously used to formalize the KEVM semantics.”
At the same time, he said that the IELE virtual machine is generated from its formal semantics in a completely automatic way. This is a key point that because there will be no room for programming errors. Additionally, IELE smart contracts will also be human readable, which will let businesses and other developers to adopt and use.
For those working with Solidity on the Ethereum Virtual Machine it will be possible to test the same contracts on the IELE testnet. In order to do so, there is a compiler that translates Solidity code into IELE, and in the future there will be compliers to facilitate the use of other high-level programming languages.
Charles Hoskinson, CEO of IOHK, commented:
“Developers will have far better security and performance with smart contracts on Cardano, thanks to our work with Runtime Verification, I’m delighted to bring this technology into the industry as everyone benefits when blockchain matures into solid and dependable infrastructure people can trust, without fear of bugs or flaws.”
It's been a busy month in the cryptocurrency and blockchain sphere. Many different platforms have been releasing their testnets and mainnets, including EOS and Tron (TRX).